Latest news with #UAEFundsTransferSystem
Hi Dubai
10-04-2025
- Business
- Hi Dubai
UAE Bank Investments Hit AED742.9 Billion in January, Marking 16.1% Annual Surge
Bank investments in the UAE continued their upward trajectory in January 2025, rising by AED7.3 billion month-on-month to reach AED742.9 billion, according to new data from the Central Bank of the UAE. This reflects a robust 16.1% increase compared to January 2024. Debt securities held by banks saw a significant rise, growing 26.1% annually to AED332.3 billion. Meanwhile, held-to-maturity bonds reached AED335.7 billion—up 7.9% year-on-year but down slightly by 1.1% from December 2024. Equity investments posted a strong 19.4% year-on-year gain, despite a 1.5% dip over the month, settling at AED19.1 billion. Other investment categories also showed resilience, climbing 13.2% year-on-year and 2.2% month-on-month to reach AED55.8 billion. This growth in investments coincides with a healthy expansion in the broader banking sector. Total credit extended by banks reached AED2.186 trillion, up 9.5% from the previous year. Deposits followed suit, rising 11.8% annually to surpass AED2.84 trillion. Banking sector assets stood at AED4.562 trillion by the end of January, marking an 11% year-on-year increase and a modest 0.1% uptick from December. In terms of liquidity and transaction activity, the UAE Funds Transfer System (UAEFTS) processed over AED1.786 trillion in January, a jump of more than 18%. This included AED1.109 trillion in interbank transfers and AED677.64 billion in customer transactions. Cheques cleared through image-based systems totalled AED118.48 billion across nearly 2 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion, while deposits reached AED15.217 billion. These figures reflect continued confidence in the UAE's banking sector, underpinned by strong investment appetite and expanding financial activity across key segments. News Source: Emirates News Agency
Zawya
10-04-2025
- Business
- Zawya
UAE banks investments reach $202bln by end of January
ABU DHABI: The total investments of banks operating in the UAE rose by 1 percent month-on-month, increasing by AED7.3 billion in January to reach AED742.9 billion by the end of the month, marking a 16.1 percent year-on-year growth compared to January 2024. According to banking indicators released today by the Central Bank of the UAE, bank investments in securities representing debt on others grew to AED332.3 billion at the end of January, reflecting a 26.1 percent annual increase. Held-to-maturity bonds rose by 7.9 percent year-on-year but declined by 1.1 percent month-on-month, reaching AED335.7 billion. Banks' investments in equities grew by 19.4 percent year-on-year, despite a 1.5 percent monthly decline, to settle at AED19.1 billion. Other investments increased by 13.2 percent year-on-year and 2.2 percent month-on-month, reaching AED55.8 billion at the end of January. This investment performance coincided with a 9.5 percent annual growth in total credit, which reached AED2.186 trillion, while total deposits grew by 11.8 percent annually to exceed AED2.84 trillion. Banking assets increased by 11 percent year-on-year and by 0.1 percent month-on-month to surpass AED4.562 trillion by the end of January. Statistics from the banking operations released today also showed that the value of transfers processed through the UAE Funds Transfer System (UAEFTS) exceeded AED1.786 trillion in January, reflecting a growth of more than 18 percent. This included AED1.109 trillion in interbank transfers and approximately AED677.64 billion in customer transfers. The value of cheques cleared via image-based processing reached AED118.48 billion in January, involving 1.956 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion in January, while deposits totalled around AED15.217 billion.
Al Etihad
09-04-2025
- Business
- Al Etihad
UAE banks investments reach Dh742.9 billion by end of January
9 Apr 2025 21:44 ABU DHABI (WAM)The total investments of banks operating in the UAE rose by 1 percent month-on-month, increasing by Dh7.3 billion in January to reach Dh742.9 billion by the end of the month, marking a 16.1 percent year-on-year growth compared to January to banking indicators released today by the Central Bank of the UAE, bank investments in securities representing debt on others grew to Dh332.3 billion at the end of January, reflecting a 26.1 percent annual bonds rose by 7.9 percent year-on-year but declined by 1.1 percent month-on-month, reaching Dh335.7 investments in equities grew by 19.4 percent year-on-year, despite a 1.5 percent monthly decline, to settle at Dh19.1 billion. Other investments increased by 13.2 percent year-on-year and 2.2 percent month-on-month, reaching Dh55.8 billion at the end of investment performance coincided with a 9.5 percent annual growth in total credit, which reached Dh2.186 trillion, while total deposits grew by 11.8 percent annually to exceed Dh2.84 assets increased by 11 percent year-on-year and by 0.1 percent month-on-month to surpass Dh4.562 trillion by the end of from the banking operations released today also showed that the value of transfers processed through the UAE Funds Transfer System (UAEFTS) exceeded Dh1.786 trillion in January, reflecting a growth of more than 18 percent. This included Dh1.109 trillion in interbank transfers and approximately Dh677.64 billion in customer value of cheques cleared via image-based processing reached Dh118.48 billion in January, involving 1.956 million cheques. Cash withdrawals from the Central Bank amounted to Dh19.929 billion in January, while deposits totalled around Dh15.217 billion.
Hi Dubai
14-03-2025
- Business
- Hi Dubai
UAE Banking Transactions Surge to AED19.9 Trillion in 2024, Marking 15.9% Growth
The total value of transactions conducted within the UAE's banking sector through the UAE Funds Transfer System (UAEFTS) soared to AED19.898 trillion in 2024, reflecting a 15.9% year-on-year increase from AED17.159 trillion in 2023, according to the latest data from the Central Bank of the UAE (CBUAE). As per the Monthly Banking Operations Statistics (2019-2024) released by CBUAE, bank transfers climbed by 13.3% to AED12.491 trillion in 2024, compared to AED11.018 trillion in the previous year. Meanwhile, customer transfers surged by 20%, exceeding AED7.4 trillion in 2024, up from approximately AED6.14 trillion in 2023. On a monthly basis, transactions recorded in December 2024 rose to AED1.878 trillion, compared to AED1.707 trillion in December 2023, signifying steady economic activity and digital financial growth. The Image Cheque Clearing System (ICCS) also witnessed a notable expansion, with the total value of processed checks increasing by 5.66% to AED1.334 trillion in 2024, compared to AED1.263 trillion in 2023. Additionally, the number of circulated checks rose to 22.59 million, up from 22.12 million in 2023. This robust growth underscores the UAE's strong banking infrastructure and increasing reliance on digital transactions, reflecting the country's ongoing commitment to financial innovation and economic resilience. News Source: Emirates News Agency
ARN News Center
13-03-2025
- Business
- ARN News Center
UAEFTS processes AED 19.89 trillion in transactions in 2024
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE). The figures are a year-on-year increase of 15.9 per cent, compared to transactions totalling AED 17.159 trillion carried out during the same period in 2023. According to the Monthly Banking Operations Statistics (2019- 2024), issued by the CBUAE on Thursday, bank transfers increased by approximately 13.3 per cent to AED 12.491 trillion in 2024, compared to AED 11.018 trillion in 2023. Meanwhile, customer transfers rose by about 20 per cent, surpassing AED 7.4 trillion in 2024, compared to approximately AED 6.14 trillion in 2023. On a monthly basis, the value of transfers increased in December 2024 to approximately AED 1.878 trillion, compared to around AED 1.707 trillion in December 2023. Regarding circulated checks, banking transaction statistics showed a 5.66 per cent increase in the value of checks processed using the Image Cheque Clearing System (ICCS), surpassing AED1.334 trillion in 2024, compared to AED1.263 trillion in 2023. The total circulated checks reached 22.59 million in 2024, compared to 22.12 million in 2023.
